Doug Casey on Robots and the Federal Debt

caseyresearch.com / June 02, 2017

Justin’s note: Could robots wipe out the federal debt? Robert Atkinson thinks so.

Atkinson is the president of the Information Technology and Innovation Foundation, a nonprofit based in Washington D.C. According to his research, robots could soon quintuple the U.S. economic growth rate. He says this would generate enough tax revenue to pay off the federal debt.

It’s a radical idea, for sure. After all, the federal government is officially $20 trillion in debt and counting. At the same time, technology is advancing at an exponential rate. So it may not be as farfetched as it sounds.

Of course, if there’s anyone who can answer this question, it’s Doug Casey. You see, Doug doesn’t just understand the government’s debt problem inside and out. He also understands the power of technology better than anyone I know.

So, I immediately called up Doug when I read about this. Below is a transcript of that conversation…

Justin: Doug, what do you make of Atkinson’s theory? Could robots really dig us out of this giant hole? And by “us,” I mean the federal government, of course.

Doug: Yes, as Tonto said to the Lone Ranger when they were surrounded by hostile Indians: Who is “we”? That’s the first key to the answer. I don’t see the federal government’s debt as being my problem. It’s not my debt. I didn’t contract for it, and I don’t approve of it. I take no personal responsibility for the debt that they’ve run up. You have to understand that the US Government is a discrete entity, with its own life and interests. It’s improper to conflate the government—essentially a million or so creatures that live within the Washington Beltway—with America.

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